Tag: divestments

SWEDEN – Global food and ingredients supplier, Tate & Lyle has announced that it has sold its oat ingredients business, based in Kimstad, Sweden, to Swedish agricultural cooperative Lantmännen. Lantmännen has acquired Tate & Lyle’s oat mill with a capacity of 55,000 tons and an oat ingredients manufacturing facility, according to the terms of the…

USA – Campbell Soup has announced that it has reached a definitive agreement to sell its branded refrigerated salsa brand, Garden Fresh Gourmet to an affiliate of Fountain of Health USA for an undisclosed sum. This is part of the company’s plan to divest both its Campbell Fresh and Campbell International businesses to turn the…

UK – British food manufacturer has dropped plans to offload its Ambrosia brand which includes rice pudding and custards, which it had planned to sell for a consideration of about US$129 million. The company which makes Mr Kipling cakes has blamed difficult business climate as well as its huge debt which it had planned to…

SWITZERLAND – The Swiss dairy processor, Emmi has agreed to sell its trading and supply company Emmi Frisch-Service AG to Transgourmet Group, Europe's second-largest cash & carry and wholesale company for undisclosed sum. According to Emmi, the logistics company was facing steady competition and cost pressure as a result of changes to customer needs in…

NETHERLANDS – The global agri-merchant firm, Louis Dreyfus Company B.V. has announced decision to exit its dairy business by mid-2019 as part of strategy to focus on core business operations. As one of the leaders in the world's agricultural product trade flows, the company is looking to exit non-core areas and focus on key product…

GERMANY – The Danish dairy producer, Arla Foods has sold its German cheese production site in Bad Worishofen, Bavaria to Vache Bleue, a Belgian seller, distributor and packer of cheese. As part of the sale, Arla has sold its shares in Muhlbach-sur-Munster based French cheese processor, Martin Sengele Produits Laitiers to Vache Bleue. Bad Worishofen…

SOUTH AFRICA - Famous Brands, a South African holding company and food service franchiser has closed 14 out of its 17 Gourmet Burger Kitchen (GBK) under-performing stores after the approval of a restructuring plan by creditors,reports Business Day. Indications are that the UK –based stores have been struggling with low consumer spending,rising cost of labour,…

AUSTRALIA – Coca-Cola Amatil has confirmed that it will be selling its fruit and vegetable processing unit in Australia, SPC, a business that has been making losses over the years. The company which has also warned of declining beverage volumes in Australia embarked on a strategic review of the business in August this year with…

INDIA – KFC India, fast food restaurant chain owned by American Yum! Brands, is re-strategizing and has sold an additional 13 restaurants to Devyani International, its largest franchise partner, which is promoted by Ravi Jaipuria’s RJ Corp, reports ET Retail. Devyani has acquired KFC restaurants in Kerala and Goa, as part of KFC’s strategy to…